Mortgage interest rates increase by 1 percent since mid-May

Published: Monday, July 8 2013 4:12 p.m. MDT

Moreover, the fact that the Federal Reserve finally feels ready to transition the U.S. economy to greater independence and end quantitative easing should be regarded as a signal that the economy, especially the housing market, is ready to stand sustainably on its own and will continue its recovery, he added.

Meanwhile, Michele Weaver, vice president and manager of the Homeowners Café, a free educational resource center in Midvale, said the rising rates might prompt increased activity from prospective buyers who want to take advantage of the still relatively low rates.

“You could see a surge of people wanting to buy quickly before the rates rise further,” Weaver said.

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